GOLD DOWN $1.45/SILVER IS DOWN 1 CENT

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by Harvey Organ, Harvey Organ Blog:

COMEX GOLD EFP ISSUANCE: 9150 CONTRACTS AND SILVER ISSUANCE: 1089 CONTRACTS/MUELLER IS PROBABLY IN BIG TROUBLE FOR SEIZING TRUMP TRANSITION EMAILS

GOLD: $1261.15 down $1.45

Silver: $16.13 DOWN 1 cent

Closing access prices:

Gold $1262.00

silver: $16.15

SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)

SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1270.98 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME: $1261.70

PREMIUM FIRST FIX: $9.28

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SECOND SHANGHAI GOLD FIX: $1273.95

NY GOLD PRICE AT THE EXACT SAME TIME: $1262.95

Premium of Shanghai 2nd fix/NY:$11.00

SHANGHAI REJECTS NY /LONDON PRICING OF GOLD

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LONDON FIRST GOLD FIX: 5:30 am est $1263.10

NY PRICING AT THE EXACT SAME TIME: $1263.20

LONDON SECOND GOLD FIX 10 AM: $1260.35

NY PRICING AT THE EXACT SAME TIME. 1261.40??

For comex gold:

DECEMBER/

 NUMBER OF NOTICES FILED TODAY FOR DECEMBER CONTRACT:  1469 NOTICE(S) FOR 146,900 OZ.

TOTAL NOTICES SO FAR: 8563 FOR 856,300 OZ (26.63 TONNES),

For silver:

DECEMBER

297 NOTICE(S) FILED TODAY FOR

1,405,000 OZ/

Total number of notices filed so far this month: 6227 for 31,135,000 oz

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Bitcoin: BID $17,616/OFFER $17,711 DOWN $1254 (morning) 

BITCOIN : BID $16,917 :  OFFER 17,028  down $1943 (CLOSING)

end

Let us have a look at the data for today

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In silver, the total open interest SURPRISINGLY FELL BY A TINY SIZED 670 contracts from 207,954 FALLING TO 207,275 DESPITE YESTERDAY’S 10 CENT RISE IN SILVER PRICING.  WE HAD NO APPRECIABLE COMEX LIQUIDATION BUT ON TOP OF THIS, WE WERE AGAIN NOTIFIED THAT WE HAD ANOTHER GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP ROUTE: A RESPECTABLE  1089 EFP’S FOR MARCH (AND ZERO FOR DEC AND OTHER MONTHS) AND THUS TOTAL ISSUANCE OF 1089 CONTRACTS. HOWEVER THE MOVEMENT ACROSS TO LONDON IS NOT AS SEVERE AS IN GOLD AS THERE SEEMS TO BE A MAJOR PLAYER TAKING ON THE BANKS AT THE COMEX.  STILL, WITH THE TRANSFER OF 1089 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. FRIDAY WITNESSED 1699 EFP’S FOR SILVER ISSUED. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24 HRS IN THE ISSUING OF EFP’S.

ACCUMULATION FOR EFP’S/SILVER/ STARTING FROM FIRST DAY NOTICE/FOR MONTH OF DECEMBER:

37,501 CONTRACTS (FOR 13 TRADING DAYS TOTAL 37,501 CONTRACTS OR 187.50 MILLION OZ: AVERAGE PER DAY: 2,884 CONTRACTS OR 14.423 MILLION OZ/DAY)

RESULT: A TINY SIZED FALL IN OI COMEX DESPITE THE 10 CENT RISE IN SILVER PRICE.  HOWEVER  WE HAD MINIMAL COMEX SILVER LIQUIDATION BUT WE DID HAVE A FAIR SIZED SIZED EFP ISSUANCE OF 1089 CONTRACTS  WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS:  FROM THE CME DATA 1089 EFP’S  WERE ISSUED TODAY (FOR MARCH EFP’S)  FOR A DELIVERABLE CONTRACT OVER IN LONDON WITH A FIAT BONUS. IN ESSENCE THE  DEMAND FOR SILVER PHYSICAL INTENSIFIES GREATLY. WE REALLY GAINED 419 OI CONTRACTS i.e. 1089 open interest contracts headed for London (EFP’s) TOGETHER WITH A DECREASE OF 670 OI COMEX CONTRACTS. AND ALL OF THIS INCREASE DEMAND  HAPPENED WITH THE RISE IN PRICE OF SILVER BY 10 CENTS AND A  CLOSING PRICE OF $16.14 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A MASSIVE AMOUNT OF SILVER STANDING AT THE COMEX.

In ounces AT THE COMEX, the OI is still represented by just OVER 1 BILLION oz i.e. 1.040 BILLION TO BE EXACT or 149% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT DECEMBER MONTH/ THEY FILED: 297 NOTICE(S) FOR 1,485,000 OZ OF SILVER

In gold, the open interest FELL BY A CONSIDERABLE 1524 CONTRACTS DOWN TO 453,613 DESPITE THE FAIR SIZED GAIN  IN PRICE OF GOLD YESTERDAY ($7.85).  HOWEVER,  THE TOTAL NUMBER OF GOLD EFP’S ISSUED YESTERDAY FOR TODAY  TOTALED A CONSIDERABLE  9150 CONTRACTS OF WHICH THE MONTH OF DECEMBER SAW 0 CONTRACTS AND FEB SAW THE ISSUANCE OF 9150 CONTRACTS. The new OI for the gold complex rests at 453,613. DEMAND FOR GOLD INTENSIFIES GREATLY AS WE CONTINUE TO WITNESS THE HUMONGOUS NUMBER OF EFP TRANSFERS TOGETHER WITH THE MASSIVE AMOUNT OF GOLD OUNCES STANDING FOR DECEMBER. EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK  TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD.  THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX  HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.  IN ESSENCE WE HAVE A HUGE GAIN OF 8,626 OI CONTRACTS: 1524 OI CONTRACTS DECREASED AT THE  COMEX  AND A GOOD SIZED  9150 OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.

FRIDAY, WE HAD 13,632 EFP’S ISSUED.

ACCUMULATION OF EFP’S/ GOLD(EXCHANGE FOR PHYSICAL) FOR THE MONTH OF DECEMBER STARTING WITH FIRST DAY NOTICE:  170,546 CONTRACTS OR 17.054 MILLION OZ OR 528.77 TONNES(13 TRADING DAYS AND THUS AVERAGING: 13,118 EFP CONTRACTS PER TRADING DAY OR 1.3118 MILLION OZ/DAY)

Result: A GOOD SIZED DECREASE IN OI DESPITE THE GOOD SIZED RISE IN PRICE IN GOLD TRADING YESTERDAY ($7.85). WE  HAD A GOOD SIZED  NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 9150. THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX AND YET WE REACHED THE HUGE DELIVERY MONTH OF DECEMBER. I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES.  IF YOU TAKE INTO ACCOUNT THE 9150 EFP CONTRACTS ISSUED, WE HAD A NET GAIN IN OPEN INTEREST OF 8,626  contracts:

9150 CONTRACTS MOVE TO LONDON AND A 1524 CONTRACTS INCREASED AT THE  COMEX. (in tonnes, the gain yesterday equates to 26.83)

we had:  1469  notice(s) filed upon for 146,900 oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

Today,  NO CHANGES in gold inventory at the GLD.

Inventory rests tonight: 837.20 tonnes.

SLV

NO CHANGE IN SILVER INVENTORY AT THE SLV:

INVENTORY RESTS AT 326.337 MILLION OZ/

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First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FELL BY A TINY SIZED 670 contracts from 207,945 DOWN  TO 207,275 (AND now A LITTLE CLOSER TO THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) DESPITE THE  RISE IN PRICE OF SILVER OF 10 CENTS YESTERDAY . H
OWEVER,OUR BANKERS  USED THEIR EMERGENCY PROCEDURE TO ISSUE ANOTHER  1089  PRIVATE EFP’S FOR MARCH (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM).  EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  WE HAD MINIMAL COMEX SILVER COMEX LIQUIDATION BUT, IF WE TAKE THE SLIGHT OI LOSS AT THE COMEX OF 670 CONTRACTS TO THE 1089 OI TRANSFERRED TO LONDON THROUGH EFP’S  WE OBTAIN A NET GAIN OF  419  OPEN INTEREST CONTRACTS, AND YET WE STILL HAVE A  HUGE AMOUNT OF SILVER OUNCES THAT ARE STANDING FOR METAL IN DECEMBER (SEE BELOW). THE NET GAIN TODAY IN OZ: 2.1 MILLION OZ!!! 

RESULT: A TINY SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE  10 CENT RISE IN PRICE (WITH RESPECT TO YESTERDAY’S TRADING).  BUT WE ALSO  HAD ANOTHER 1089 EFP’S ISSUED TRANSFERRING  COMEX LONGS OVER TO LONDON . TOGETHER WITH THE HUGE AMOUNT OF SILVER OUNCES STANDING FOR DECEMBER, DEMAND FOR PHYSICAL SILVER INTENSIFIES DESPITE THE CONSTANT RAIDS.

(report Harvey)

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2.a) The Shanghai and London gold fix report

(Harvey)

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)Late MONDAY night/TUESDAY morning: Shanghai closed UP 28.61 points or 0.88% /Hang Sang CLOSED UP 203.25 pts or 0.70% / The Nikkei closed DOWN 33.77 POINTS OR 0.15%/Australia’s all ordinaires CLOSED UP 0.54%/Chinese yuan (ONSHORE) closed UP at 6.6030/Oil UP to 57.45 dollars per barrel for WTI and 63.55 for Brent. Stocks in Europe OPENED ALL MIXED . ONSHORE YUAN CLOSED DOWN AGAINST THE DOLLAR AT 6.6030. OFFSHORE YUAN CLOSED UP AGAINST  THE ONSHORE YUAN AT 6.6044 //ONSHORE YUAN SLIGHTLY STRONGER AGAINST THE DOLLAR/OFF SHORE STRONGER TO THE DOLLAR/. THE DOLLAR (INDEX) IS  WEAKER AGAINST ALL MAJOR CURRENCIES. CHINA IS  VERY HAPPY TODAY.(STRONG MARKETS)

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